Sunrise New Energy Co Ltd (EPOW)

[sprtcrdlui]

$EPOW VAT Refund of $4.3 million Increase Cash Flow
Sunrise New Energy Announced the VAT Rebate of Approximately $4.35 Million, Enhancing the Company’s Cash Flow
Sunrise New Energy Co., Ltd. (“Sunrise”, the “Company”, “we” or “our”) (NASDAQ: EPOW), today announced that Sunrise (Guizhou) New Energy Materials Co., Ltd. has received 31.35 million yuan (approximately $4.35 million) of VAT (Value Added Tax) rebate for the financial year 2022 on June 16, 2023.
The refund has been approved by the competent tax authority, according to the policy announcement: "Announcement of the Ministry of Finance and the State Administration of Taxation on Further Enhancing the Implementation of the Policy of Value Added Tax at the End of the Period(No. 14, 2022)" and “The Announcement of the Ministry of Finance and the State Administration of Taxation on Expanding the Industry Scope of the Policy of Full Refund of VAT Allowances (No. 21 in 2022)" which are formulated and issued by the Ministry of Finance and the State Administration of Taxation of the People's Republic of China. According to the relevant provisions of the Enterprise Accounting Standards, the refund of the value-added tax will enhance the the company's cash flow. “As the first enterprise to receive the VAT refunds in Qianxinan Prefecture, Guizhou Province, Sunrise has received support and recognition from the local government.” stated Mr. Haiping Hu, Chairman of the Company.